The calm before the storm. Nifty C&M trimmed to $1m per month, Renison should be spinning at least $2m per month pre capex. The company had $14m cash at 30 June.
APAC are effectively calling the shots which I think means two things - 1. Nifty is gone; 2. they’ll limit the dilution. Worst case they raise via a rights issue underwritten by APAC IMO.
Ann: Preliminary Final Report, page-25
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